Chamber Statement on US administration's tax reforms

Release Date: 29/09/2017

Ireland’s reputation as location of choice for US business investment is at an all-time high. The Irish operations of US companies play a critical role in the global competitiveness and success for those companies – investing in Ireland has been good for the United States. The Ireland-US business relationship is not a one-way street - Irish companies are now creating almost as many jobs in the US as the US creates in Ireland.

The moves by the US administration to reduce burdens on business will be seen as good news for the 700 Irish companies with operations in all 50 States of the United States. They also remind us that Ireland competes globally, as part of the European Union, for inward investment. We welcome the statement by the American Chamber of Commerce EU this week that recent tax equalisation proposals by the European Commission and some members states would hurt the attractiveness of the EU as an inward investment location.

The Chamber also welcomes this week’s re-statement by Minister Paschal Donohoe of the certainty of Ireland’s 12.5% corporate tax rate and Ireland’s commitment to maintaining sovereignty over its corporation tax regime. Ireland’s transparent corporate tax regime is part of the reasons for its success. The most important factor for US companies is the talent they find in Ireland. In addition, Ireland offers a very business friendly environment and it provides ease of access to European and other markets.